Nine housing projects in Maine receive federal aid

More than $15.3 million in grants and loans have been awarded to help finance nine projects to provide affordable housing in Maine.

The financing packages were announced Monday by the Federal Home Loan Bank of Boston, a cooperative bank that provides financial housing aid in the six New England states.

The FHLB announced the financing for the Maine projects as part of $46.6 million in grants, loans and subsidies on interest rates for 47 housing initiatives in the region.

In Portland, a project to provide 22 rental units through Shalom House received a $935,695 grant and subsidy and a loan of nearly $1.5 million to provide support for those with serious mental illnesses and the homeless to integrate into the community. Norway Savings Bank is providing the local financing for the project, which will operate as a group home, with a carriage house providing housing for low-income families with a member who has a mental health disability.

Portland Press Herald